Reuters reveals automakers to double spending on EVs, batteries to $1.2 trillion by 2030

Reuters exclusively reported that the world’s top automakers are planning to spend nearly $1.2 trillion through 2030 to develop and produce millions of electric vehicles, along with the batteries and raw materials to support that production. The electric vehicle investment figure, which has not previously been published, dwarfs previous investment estimates by Reuters and is more than twice the most recent calculation published just a year ago.